"The U.S. labor-market report will further erode investor confidence"
- Markus Allenspach, head of bond research at Julius Baer Group Ltd.
European stocks extended weekly losses, after a report showed U.S. companies added fewer jobs than expected in April.
The Stoxx Europe 600 Index erased 1.76 per cent to 253.00. Germany's DAX Index tumbled 1.99 per cent and France's CAC 40 Index contracted 1.90 per cent. The U.K.'s FTSE 100 Index lost 1.93 per cent to 5,655.06.
"The U.S. labor-market report will further erode investor confidence," said Markus Allenspach, head of bond research at Julius Baer Group Ltd. in Zurich.
"The financial market can digest one or two negative surprises, but if the negative surprises become the rule and not the exemption, as it is the case now, investors are fast in reducing their positions."
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